Abstract

http://ssrn.com/abstract=1268668
 
 

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Micro Finance Institutions (MFIs) in Nigeria - Problems and Prospects: Questionnaire Survey Findings


Francis Kehinde Emeni


University of Benin - Department of Accounting

August 25, 2008

Journal of Financial Management and Analysis, Vol. 21, No. 1, January-June 2008

Abstract:     
This study examines the problems and prospects of MFIs in Nigeria. The importance of MFIs in Nigeria's economy cannot be over-emphasized; this is because it plays a vital role in the financial intermediation process and also in the lives of the low income earners whom constitute over 70 per cent of the Nigerian population. The design and technique employed in data collection were cross-sectional survey design and data collection through carefully implemented questionnaire. The t-statistic was used to analyse data collected and it was found that the outreach performance (financial and otherwise) of MFIs is discouraging and MFIs in Nigeria experience varying degree of problems. Following from the findings, some recommendations were made, prominent amongst which was that, a national policy framework of MFIs should be prepared by the development finance department of the Central Bank of Nigeria and subjected to stakeholders' review, so as to enhance the provision of diversified microfinance services on a long-term, sustainable basis for the poor and low income groups.

Keywords: Microfinance institutions, Financial intermediation, Low-income earners

JEL Classification: C81, G29, N27, O17

Accepted Paper Series


Not Available For Download

Date posted: September 23, 2008  

Suggested Citation

Emeni, Francis Kehinde, Micro Finance Institutions (MFIs) in Nigeria - Problems and Prospects: Questionnaire Survey Findings (August 25, 2008). Journal of Financial Management and Analysis, Vol. 21, No. 1, January-June 2008. Available at SSRN: http://ssrn.com/abstract=1268668

Contact Information

Francis Kehinde Emeni (Contact Author)
University of Benin - Department of Accounting ( email )
Ugbowo-Lagos Road
University of Benin,
Benin City, Benin City, Edo State PMB 1154
Nigeria
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